Not in a 100 years. I doubt that people will just make fiat so worthless if bitcoin reach 10.000 dollars.
If fiat would be worthless what will happen then with the price of bitcoin I wouldn't be sure about that the fiat would be worthless.
Topic: If bitcoin price is $10.000, will fiat be worthless? - page 95. (Read 145059 times)
No, not unless bitcoin becomes it's own fiat currency. If bitcoin would shoot up that high right now and reach that value, fiat would not be useless at all.
As of right now the world hasn't adapted to bitcoin yet, so you're still going to need to exchange in order to buy something in stores.
As of right now the world hasn't adapted to bitcoin yet, so you're still going to need to exchange in order to buy something in stores.
No way, are you expecting people to pay everyday product using bitcoin?
its hard to do that without better internet penetration.
The good thing about fiat money is that you can use it absolutely offline.
Then because cash-fiat is still a thing, then bank-fiat would also be a thing.
its hard to do that without better internet penetration.
The good thing about fiat money is that you can use it absolutely offline.
Then because cash-fiat is still a thing, then bank-fiat would also be a thing.
if bitcoin just surprisengly riches 10000$ we become richer but this will not affect fiat because it's only affect the bitcoin users that became wealthier and the new users will be unlucky because they started investing and buying a 0.01 BTC for a thounsand dollars that is worth now just over 4$
This would really depend on how much bitcoin would be adapted to the world. I think that if a lot of merchants would accept bitcoin, fiat wouldn't be a problem. It would be nice to have both available though as payment. If mass adaption has happened by then, then yes fiat will be useless. Until then we're still going to need fiat to get the stuff we need on a daily basis.
Fiat currency will always useful It will not destroy and all Just Bitcoin is in unreachable distance when compare to price.Only thing Bitcoin will play as a business money in International Shares and businesses. After their adaption Price of the bitcoin also will increase for sure.
I think fiat will stay the same as it always has been. Fiat is not depending on bitcoin, the price of bitcoin doesn't have any effect on fiat. That's why I think it won't have an effect. The governments are smart enough not to let bitcoin take over the economy, so I think they will find a way somehow for bitcoin to get that big in value.
This would really depend on how much bitcoin would be adapted to the world. I think that if a lot of merchants would accept bitcoin, fiat wouldn't be a problem. It would be nice to have both available though as payment. If mass adaption has happened by then, then yes fiat will be useless. Until then we're still going to need fiat to get the stuff we need on a daily basis.
Fiat will never be worthless. Why?
Since computers can fail or have a failure. In that case you pay your 'goods' with fiat.
Since computers can fail or have a failure. In that case you pay your 'goods' with fiat.
what if there is a massive blackout and you're not able to use any atm, no cash at your disposal, hence also fiat cna be useless, like bitcoin and like everything else
but they never talk about catastrophic scenario for fiat, always for bitcoin....one wonders why...
In that case you are always going to need one or the other. You gotta have something to fall back on. So in this case you are going to need fiat.
What if bitcoin doesn't evolve to it's full potential, then mass adaption won't happen. Meaning that we're still going to need fiat even when 1 bitcoin is equal to 10k
Fiat will never be worthless. Why?
Since computers can fail or have a failure. In that case you pay your 'goods' with fiat.
Since computers can fail or have a failure. In that case you pay your 'goods' with fiat.
what if there is a massive blackout and you're not able to use any atm, no cash at your disposal, hence also fiat can be useless, like bitcoin and like everything else
but they never talk about catastrophic scenario for fiat, always for bitcoin....one wonders why...
Fiat will never be worthless. Why?
Since computers can fail or have a failure. In that case you pay your 'goods' with fiat.
Since computers can fail or have a failure. In that case you pay your 'goods' with fiat.
Fiat is fiat. For now nothing can replace it.
We can say that still many of the people around the globe does not know the value of Bitcoins yet, what will be the future of Bitcoins, whether it will rise or go down. No body knows. So there are many people who is still using the fiat currencies . so still Fiat currency they using it. Bitcoins can't be replaced the fiat currencies at this point now. If bitcoin hit $1,000,000+, which is highly unlikely, fiat would be worthless. Not 10,000, because there's something really wrong about a 210 billion dollar market cap.
If bitcoin hit 1 mil, 1 satoshi would be a cent. Uh...
If bitcoin hit 1 mil, 1 satoshi would be a cent. Uh...
What's so wrong about it? Gold is a several trillion dollar marketcap market and the qualities of Gold are inferior to Bitcoin objectively. Gold is all network effect, it's pretty useless in the 21 century. When people wake up and see Bitcoin for what it is, the marketcap is easily and realistically on the trillions as well.
If bitcoin hit $1,000,000+, which is highly unlikely, fiat would be worthless. Not 10,000, because there's something really wrong about a 210 billion dollar market cap.
If bitcoin hit 1 mil, 1 satoshi would be a cent. Uh...
If bitcoin hit 1 mil, 1 satoshi would be a cent. Uh...
You are forgetting a few of the important facts. If Bitcoin goes up to $10,000 per coin, then the market cap will be around $150 billion. Compare that to the figure of $1,500 billion each for the United States Dollar, and the Euro. This means that even if Bitcoin goes up to $10K per coin, its market cap will be much lower than that of the tier 1 fiat currencies.
Even the US national debt is 19 trillion. That is much larger than the $150 billion of bitcoin, or 120 times larger.
OK... United States Treasury bonds can also be considered as a form of fiat currency. And just like the United States Dollar, the total market cap of the United States Treasury bonds is also going up very steeply (along with the rising federal debt). Some of the nations (such as Russia and China) are dumping the US bonds, but the market demand is still very strong.
Nope, for as long as governments and corporate companies are in control of the main currency, fiat will never be worthless. As long as bitcoin hasn't adapted all over the world and you are not able to pay with it everywhere, we're all still going to need fiat.
That statement is not correct.
Currencies have shown to be worthless hundreds of times over the centuries it existed.A currency which can't buy you a loaf of bread is worthless!! And even then you can't use it as fuel "because goat shit burns better", Andreas Antonopoulos would say!
No currency ever was able to hold it's purchasing power and therefore crashed at the end.The system has collapsed.
And then it starts all over again.With a new currency.And this cycle repeats again and again.
If you don't have fiat to compare bitcoin to, how would you know how much bitcoin would be worth? You wouldn't know that the bitcoin would be worth $10.000 at that moment. You're still going to need fiat if the world did not adapt to bitcoin yet, you're still going to need fiat to pay for you loaf of bread. So explain again why fiat would be worthless?
No i don't agree, fiat money will not be affected by bitcoin
But if bitcoin price is more than 10000$ its mean you just have more money to spend it
Thats my opinion
But if bitcoin price is more than 10000$ its mean you just have more money to spend it
Thats my opinion
BTC will always be used as a medium for trade which also include legal and illegal activities hence BTC can never be 'worthless' unless the blockchain was altered to become "obsolete" or more weaker than fiat.
The best thing of the bitcoin that with it you can see the value what it is.
I don't know if the fiat money be worthlees, but I don't think it will because is the first think why bitcoin is worth.
I don't know if the fiat money be worthlees, but I don't think it will because is the first think why bitcoin is worth.
Bitcoin is 'big' but not this big that it can outcompete any currency.
Both are needed and both can exist next to each other..
Both are needed and both can exist next to each other..
Fiat will keep the same way its has and keeps with gold soo why would be diferent if bitcoin breaks a 10k value or above,you cant do basic things with bitcoin currently soo ,fiat conversion would be required ,and governments would start a war agains bitcoin if they see it as a thread and not inovation.
Jump to: